Cuba

Cuba, officially known as the Republic of Cuba, is comprised of the country, Isla de la Juventud, and minor archipelagos. Its largest city is also the capital city of Havana. The country is the largest Caribbean-island, with an area of just under 110,000 sq.km, and is the second most populous, after Hispaniola, with a population of roughly 11 million.

Cuba is considered part of Latin America. Its customs, culture, and people come from different origins including Spanish, African American, Ciboney, Taino, and its close relation with the Soviet Union during the Cold War, are among the cultures which influence the country. Cuba is ranked eighth in North America under the Human Development Index, and 67th in the world. It also ranks highly in education and healthcare systems in the country.

Cuba is one of the last remaining socialist countries in the world. The Constitution of 1976 defines the country as a socialist republic; it was replaced in 1992 with language indicating the nation is: "guided by the ideas of José Martí and the political and social ideas of Marx, Engels and Lenin.” The People’s Supreme Court is the highest authority in the judicial government. The Cuban government has been accused of numerous human rights violations throughout its Communist history including torture, unfair trials, arbitrary imprisonment, and extrajudicial executions.

The nation’s economy is guided under the principle of a substantially-controlled, planned economy. Production in the nation and owned and run by the government, and the state employs a majority of the labor-force. Any firm which wants to hire a Cuban national must pay the Cuban government, which pays the employee in Cuban pesos. The country’s economy is highly driven by the sale of sugar to the US, and rum exports are also a highly profitable industry in the nation. Nearly 5% of the country’s residents fall below the poverty line.

Cuba represents a market with robust long-term growth potential that hinges on what happens with Cuba's government institutions and economic engine going forward, and it is one of the largest potential consumer markets in the Caribbean.

There are many legal and regulatory facets to U.S. policy on Cuba, including:

the long-standing U.S. Trade embargo;

the Cuban Democracy Act of 1992,

the Cuban Liberty and Democratic Solidarity (Libertad) Act of 1996 (commonly known as the Helms-Burton Act),

various rules, regulations and amendments promulgated by the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC);

and most recently the changes after President Obama’s December 17, 2014 announcement concerning changes to Cuba policy.

With the re-establishment of commercial relations between Cuba and the U.S., there is a need to monitor changes to U.S. policy, new legislation and amendments to existing laws that impact U.S.-Cuba relations.

Legal Disclaimer

You are responsible for reading, understanding and agreeing to the National Law Review's (NLR’s) and the National Law Forum LLC's Terms of Use and Privacy Policy before using the National Law Review website. The National Law Review is a free to use, no-log in database of legal and business articles. The content and links on www.NatLawReview.com are intended for general information purposes only. Any legal analysis, legislative updates or other content and links should not be construed as legal or professional advice or a substitute for such advice. No attorney-client or confidential relationship is formed by the transmission of information between you and the National Law Review website or any of the law firms, attorneys or other professionals or organizations who include content on the National Law Review website. If you require legal or professional advice, kindly contact an attorney or other suitable professional advisor.

Some states have laws and ethical rules regarding solicitation and advertisement practices by attorneys and/or other professionals. The National Law Review is not a law firm nor is www.NatLawReview.com intended to be a referral service for attorneys and/or other professionals. The NLR does not wish, nor does it intend, to solicit the business of anyone or to refer anyone to an attorney or other professional. NLR does not answer legal questions nor will we refer you to an attorney or other professional if you request such information from us.

Under certain state laws the following statements may be required on this website and we have included them in order to be in full compliance with these rules. The choice of a lawyer or other professional is an important decision and should not be based solely upon advertisements. Attorney Advertising Notice: Prior results do not guarantee a similar outcome. Statement in compliance with Texas Rules of Professional Conduct. Unless otherwise noted, attorneys are not certified by the Texas Board of Legal Specialization, nor can NLR attest to the accuracy of any notation of Legal Specialization or other Professional Credentials.

The National Law Review - National Law Forum LLC 4700 Gilbert Ave. Suite 47 #230 Western Springs, IL 60558 Telephone (708) 357-3317 If you would ike to contact us via email please click here.